Coal India’s spot coal auction tripled to 16.8 million tonnes in October compared to same month last year, on the back of increase in demand from the power sector. <\/p>\n
The increase of 190% or 11 million tonnes during the month signals demand resumption for coal after a Covid-led hiatus. <\/p>\n
Volume booking in e-auctions for the first seven months of the ongoing fiscal ending October at 59 MTs, increased by 28 MTs translating into a growth of 90%. For a comparable period last year CIL booked 31 MTs. <\/p>\n
October\u201920 auction sale, in addition to the four prevailing windows, included a new auction outlet called special spot for coal importers, under which 1.6 MTs of coal was booked. <\/p>\n
CIL in a first, has introduced this category meant exclusively for coal importers to contain imports from abroad. \u201cThis opened an additional avenue for our coal companies to step up their sales\u201d said a senior executive of the company. <\/p>\n
Coal that went under auction hammer during October\u201920 fetched CIL 13% increase over the notified price. Special spot for coal importers chipped in 14% increase over the notified value. <\/p>\n
To boost demand, CIL has brought down the reserve price close to zero during the first half of the present fiscal. It was only in October, as a bellwether, CIL introduced an add-on ranging from zero to a maximum of 10% over the notified price to test the market trend. <\/p>\n
\u201cFrom November onward we have reverted back to the pre-covid status where subsidiaries of CIL will determine their own add-ons. Gauging the response we are confident of stable auction sales and increased premiums in the ensuing months\u201d said the referred executive. <\/p>\n
CIL\u2019s special forward auction, meant specifically for the power sector, booked 6.5 MTs in October accounting for 38.7% of the total booked quantity of the auction. Compared to 2 MTs booked in September\u201920 the growth has zoomed up to 225% in October. <\/p>\n
Unstructured coal market composed of consumers and traders having no direct access for purchase of coal have shown healthy appetite in volume bookings as is evident from the spot auction and special spot auction applicable to all buyers of coal, the executive said. These two auctions with a booking of 5.4 MTs constituted 32% of October auction sales. Compared to 2.4 MTs booked under these auction in September\u201920 the growth is 125%. <\/p>\n
E-auction booking during first seven months of the current fiscal ending October fetched a premium of 10% over the notified price. <\/p>\n
During April-October\u201920 non-power sector consumers in exclusive e-auction booked 12 MTs more coal at 16.8 MTs than it did in the same period last year when the booked quantity was 4.8 MTs. <\/p>\n
Power Sector\u2019s booking ending October\u201920 was 16.5 MTs, under special forward e-auction – an increase of 3.6 MTs or 28% growth compared to 12.9 MTs ending October\u201919.<\/p>\n","protected":false},"excerpt":{"rendered":"
Coal India’s spot coal auction tripled to 16.8 million tonnes in October compared to same month last year, on the back of increase in demand from the power sector. The increase of 190% or 11 million tonnes during the month signals demand resumption for coal after a Covid-led hiatus. Volume booking in e-auctions for the first seven months of the ongoing fiscal ending October at 59 MTs, increased by 28 MTs translating into a growth of 90%. For a comparable period last year CIL booked 31 MTs. October\u201920 auction sale, in addition to the four prevailing windows, included a new […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[131],"tags":[],"class_list":["post-382338","post","type-post","status-publish","format-standard","hentry","category-coal"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=382338"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382338\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=382338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=382338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=382338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}